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COVER STORY
AUGUST 2019 oilandgasmiddleeast.com
NATIONAL INTEREST,
GLOBAL IMPACT
Tell me about Mubadala Investment
Company, and the company’s energy
portfolio.
Mubadala Investment Company was
created in 2017 following the merger of
the International Petroleum Investment
Company (IPIC) and Mubadala Devel-
opment Company. Today, we are active
across 15 sectors with businesses and
partnerships in more than 50 countries
worldwide and assets under management
valued at over $225bn.
The petroleum & petrochemicals
platform is a core pillar of Mubadala’s
strategy for economic diversification. It
comprises a global portfolio of operating
companies active across the full oil and
gas value chain. Through our operating
companies, we are present in over 30
countries. On aggregate, our portfolioWORDS: CARLA SERTIN
“WE NEED TO ENSURE THAT THE $13BN DEPLOYED
OVER THE PAST 24 MONTHS TO FUND PROJECTS
MANAGED BY OUR PORTFOLIO COMPANIES ARE
DELIVERED ON TIME AND WITHIN BUDGET.”Musabbeh Al Kaabi, CEO
of the petroleum and
petrochemicals division
of Abu Dhabi’s sovereign
wealth fund Mubadala
Investment Company, on
his strategy for economic
diversification, and
operating globally in a
shifting industrycompanies produce close to 500,000 bar-
rels of oil equivalent per day (boed), split
between 51% liquids and 49% gas.
Our portfolio of energy investments en-
compasses leading companies within the
upstream, midstream and downstream
sectors, including key industry play-
ers Cepsa, Mubadala Petroleum, NOVA
Chemicals and Borealis. When it comes
to our strategy, we focus on sustaining a
balanced portfolio through our involve-
ment in selective E&P projects, energy
integrated solutions, and joint ventures
around the world. We build our busi-nesses on strong foundations of partner-
ship to leverage synergies and maximise
value by working hand in hand with our
business partners. Ultimately, the success
of our investments is measured by the
extent of our contribution to Mubadala’s
goal by delivering sustainable financial
returns from our various local and inter-
national investments.
What are the priorities for Mubadala’s
petroleum and petrochemicals arm?
Firstly, we need to ensure that the
$13bn deployed over the past 24 months